Malvinder files complaint against brother Shivinder, others for ‘financial fraud’

Malvinder further alleged that Shivinder was involved in a “conspiracy” to siphon off funds from RHC Holding Pvt Ltd, jointly held by the two, in order to adjust debts of Radha Soami Satsang Beas (RSSB) spiritual leader Gurinder Singh Dhillon.

He alleged that Shivinder “misused” his position as a promoter of RHC by “concealing the precarious financial health” of six companies the holding firm acquired around December 2017, according to a copy of his complaint.

His plaint also alleges that Shivinder proceeded to take over these companies in the RHC group “without carrying out any due diligence and following the procedure established by law”.

“… Sh. Shivinder Mohan Singh, in collusion and connivance with Sh. Gurinder Singh Dhillon, Sh. Gurpreet Singh Dhillon, Sh. Gurkirat Singh Dhillon, Sh. Sunil Godhwani, Sh. Sanjay Godhwani, Sh. Rajveer Singh Gulia and Sh. Pramod Ahuja, misused his position, by aiding in concealment of the illegal acts of siphoning off the funds of the aforesaid six companies,” stated the plaint filed with EOW, a copy of which The Indian Express has viewed.

“There is no basis and no leg (for this complaint) to stand on, as far as my name is concerned,” Rajveer Singh Gulia told the newspaper. Emailed queries, phone calls and text messages to Malvinder and Shivinder Singh remained unanswered till late Sunday evening. Sunil Godhwani did not respond to phone call and text message seeking comment, while Sanjay Godhwani declined to comment on the matter.

Members of the Dhillon family could not be reached and emails sent to the registered emails of Prius Real Estate Pvt Ltd with the Ministry of Corporate Affairs, in which the Dhillons are said to have an ownership interest, also remained unanswered. Pramod Ahuja did not respond to queries.

Malvinder, in his plaint, has also alleged that, upon “careful perusal” of the financial status of these companies, it was “shockingly” revealed that the companies had “surreptitiously” extended loans to the tune of Rs 1,006.3 crore to members of the Dhillon family, Gurinder Singh Dhillon’s close associates, the Godhwanis and/or companies owned, controlled or managed by them.

These loans were allegedly given “without carrying out any due diligence,” stated the plaint, adding that the interest on the amount due is not completely updated as on date.

The elder Singh has also alleged that he has been threatened, through Gurinder Singh Dhillon’s lawyer, to agree to the RSSB head’s demands to sign a settlement over the dues owed to RHC, according to the plaint.